TEL-AVIV, Israel, May 5, 2015 /PRNewswire/ --
Blackbird International Corporation (OTC: BBRD), a global leader in renewable sea wave energy technology(WERPO), is pleased to announce that it signed an agreement with the government of Guinea-Bissau for the development of a 500MW sea wave power plant along the coastline of Guinea-Bissau at a value of $500 Million Dollars.
The Project will be a Joint Venture with the Government of Guinea-Bissau whereas the Government will have a 30% partnership and earn 40% of the profits for a period of 25 Years.
BBRD is forecasting the costs of the project at an estimated $325 Million USD for the entire project. The government of Guinea-Bissau is obliged by the contract to pay 10 Cents per KWH and our projections are for $50 Million yearly revenue from this contract. Current estimates are that the actual planning and building will take three years until completion.
This project will help Guinea-Bissau become more independent with a stable power supply that can solve all the energy problems in the country.
Mr. Shmuel Ovadia, Director and inventor of BBRD's technology stated, "Guinea-Bissau is a perfect location to introduce sea wave energy as a viable and profitable solution for rising energy needs by implementing our patented technology and is further testament to our unique and patented sea wave power generation technology and its worldwide demand."
About Guinea Bissau Energy:
Although the government of GB has no specific ''regulatory or legislative framework for Renewable Energies," it has included RE in its "Poverty Reduction Strategy Paper (PRSP)." The government of GB sees the promotion and development of Renewable Energies has an important factor for the development of the country. RE is also mentioned in the official gazette (Boletim Oficial da república da Guiné-Bissau número 26) and has an area that the government and more specifically the directorate of energy needs to promote.
The BBRD Power Station installation will bring much needed additional capacity to the local grid and will ensure a more robust and reliable power supply is delivered to the commercial heart of the country in order to help keep business and industry up and running and keep the lights on in the Guinea Conakry.
About Blackbird International Corporation:
Blackbird International Corporation (http://www.werpo.us ) is the sole shareholder of Wave Electricity Renewal Power Ocean Ltd (WERPO)
About WERPO sea wave energy technology (BBRD):
WERPO, having received the rights for all of SDE Ltd.'s technology, property, know-how, IP (patents, et. al.), contracts and subsidiaries, is able to promote its sea wave energy solution around the world.
WERPO's This unique technology is based on the utilization of sea waves' rise and fall to yield hydraulic pressure that produces electricity, while exploiting the full potential of wave speed, height, depth and currents beneath the surface of the water. This technology was chosen as number one in its field by an independent team of scientists from PesWiki and also as one of the top 100 renewable energies. The Israeli company with its proven technology has several projects around the world with government entities as well as with the private sector. It has established 11 joint ventures with local partners in 9 different countries including a second project in China.
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
For further information please contact:
Maximum Performance Advisors, Inc.
SOURCE Blackbird International Corporation